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level. but, ultimately, this is going to require an agreement between president obama, speaker boehner, senator mcconnell, senator harry reid and leader pelosi and in some sense it is going to be the two main players are president obama and speaker boehner. my concern has been this looks like campaign time and the election wasn't over and we didn't have the prospect of going over the fiscal cliff. today the house republicans in a big development put out a plan and i am sure it is not on its face acceptable to the president and the democrats here but interestingly it has the same total number of savings and tax revenues as the president does over 10 years, $2.2 trillion. that is a lot more spending and entitlement reform in the president plan -- republican land and the democratic plan but now they can fill things in and the president has to be at the table to close the deal. he has the mandate to do it. >>neil: part of the mandate means both sides should give a little. obviously the republican plan has a debt commission feel to it but beside that i am wondering if it and tough and i kno
with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and partisans polarized this is a problem. >> i keep saying we need a presidential historian or hostage negotiator. somebody could say we've been at stalemates before, gotten over it, shut down the government in '96. tip o'neill and ronald reagan managed to solve problems and get along. listen to what john mccain said about what we need here. >> it's time now to sit across the table from one another, rather than -- in the way they did with ronald reagan and the way you get things done in washington. >> the way they did with ronald reagan and get things done in washington. you sit together and figure it out. they were at a holiday party they didn't talk to each other. they're issuing sort of statements and rebuttals and saying i'm not going to budge. >> negotiation by press release. this is not how things get done in washington and part of the problem of the growing incivility in washington. people don't work together the way th
on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint economic committee hearing. they're going to hear from a top economist not only about the jobs numbers coming out tomorrow but also about what can be done to avoid this issue at the end of the year. >> tracie potts for us in washington. thank you. >>> last night on the ed show, steny hoyer explains why he thinks the debt ceiling vote should be taken off the table. >> the debt ceiling is a phone y vote, frankly. and from time to time democrats have made it an item that they demagogue down and the republicans have demagogued on it, as well. the debt lim
'll tell you why, straight ahead. >>> also ahead on "starting point," president obama and speaker boehner talk on the phone about the fiscal cliff. but will they be meeting face to face and will they get anything done before it's too late? up next, oregon senator jeff merkley. he's a member of the budget committee. >>> and kobe bryant joins an elite club with basketball greats like michael jordan and kareem abdul-jabbar. his impressive feat, we'll tell you all about it. >> the greatest player in the history of the los angeles lakers. wow! that's a savings of over 29 bucks! twenty-nine bucks!!?? and they're powered by friendship. see for yourself if you could save on the brands you want. walmart. starts with ground beef, unions, and peppers baked in a ketchup glaze with savory gravy and mashed russet potatoes. what makes stouffer's meatloaf best of all? that moment you enjoy it at home. stouffer's. let's fix dinner. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated su
a solution for president obama this time around. mr. president, turn the tables on him speaker boehner that is. we all recall the trap that the white house fell into last year, letting negotiations over the potential government shutdown be concluded only to be held hostage again when the republicans then refused to raise the debt ceiling without getting additional concessions. it was, as congressman welch said it was professional malpractice not to wrap the debt ceiling into the first round of negotiations. so don't do it again. the debt ceiling will necessarily and inevitably be hit and breached early next year. yet when president obama told speaker boehner at their november 16th meeting to raise the ceiling by year's end boehner said there is a price for everything. no, there doesn't have to be. sometimes what is necessary and good policy should just be done. the ceiling will be breached because of the fiscal track we're on and agreeing to the expenditures and revenues that are now in place the debt ceiling will be exceeded because of the boehner's policies, policies that have driven
next year. yet when president obama told speaker boehner at their november 16th meeting to raise the ceiling by year's end boehner said there is a price for everything. no, there doesn't have to be. sometimes what is necessary and good policy should just be done. the ceiling will be breached because of the fiscal track we're on and agreeing to the expenditures and revenues that are now in place the debt ceiling will be exceeded because of the boehner's policies, policies that have driven revenues down well below historical norms and far below the expenditure levels of about 22% of gdp. never mind that speaker boehner called the debt ceiling his leverage and speaker boehner voted five times to during the bush presidency, to raise the ceiling to the tune of nearly 4 trillion-dollar. this time he wants the default by the government that he has a moral obligation to support the raising the debt ceiling now. so here is the offer the president should make. i tolerated an unacceptable and improper effort by your house to extract concessions on an issue that should be a simple procedural
and conservatives. boehner can't win. the most important poll was on november 6th. president obama ran on raising taxes on the wealthiest americans and not hitting beneficiaries of medicare, medicaid and social security. this is his leverage. >> this shouldn't be a surprise to anybody. this was a major debate in the presidential and congressional campaigns across the country. a clear majority of americans, not just democrats but also a lot of republicans and a lot of independents agreed we should have a balance approach to deficit reduction that doesn't hurt the economy and doesn't hurt middle class families. >> republicans spent the last four years saying that president obama doesn't understand the economy. voters said that they were wrong. now, john boehner has really worked himself into a position. he is really in an untenable position. he is going against the majority of americans here. he is willing to say, our ideology is more important than the way you think and the way the majority thinks in this country. you know what the democrats ought to do. they ought to resource his district. you no
that is scheduled to start any hour now. >>> also, we could hear president obama's response to speaker boehner's offer. he is is publicly pushing his plan to raise taxes on the wealthiest of americans. we'll bring that to you 50 minutes from now. >>> lawmakers are listening to responses of superstorm sandy. they are going to demand more funds for the cleanup. this is the third of four hearings scheduled. >>> and in houston, a history making mission to the international space station. scott kelly, the american astronaut, will speak about his next launch. if all goes as planned, it will set the longest record for a space mission for an american. we'll see what he's saying. "newsroom" starts right now. >>> good morning. thank you so much for being with us. i'm carol costello. this should be interesting. speaker john boehner is meeting with house republicans who are angry at his new pitch to raise 8$800 million in fiscal cliff negotiations. we're expecting a news conference any minute now on that meeting. we'll bring it to you live. nancy pelosi spoke about it a few hours ago. here's what she had
boehner will speak at any moment. his first public remarks since president obama drew a line in the sand insisting on raising tax rates on the rich. no deal without that. we hear from mr. boehner short lil' -- shortly. when he starts to speak, you will hear it live. also new at 10:00, an 8 minute cartoon video from a teacher's union in california that shows among other things a rich man urinating on the poor and the middle class. this is what the class warfare rhetoric has evolved into the formerly golden state. yep, believe me, we will have more on that later this hour with california resident mike reagan. >>> to the big board, we're right at 13,000, a gain of 51 points in the early going this wednesday morning. here's our company, charles payne is here. sandra smith is back. and nicole petallides on the floor of the new york stock exchange. and mark stein, conservative columnist supreme, author and christmas carol singer joins us as well. welcome to the program. president obama says i'm going to insist on raising tax rates on the rich. it is my opinion that the president wants to punis
, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well be some progress on a compromise. that flies in the face of harry reid saying little progress is made. that is what is driving the u.s. markets and the global markets as well. the fed's beige book says there is a tepid growth. you have the housing market against that manufacturing and superstorm sandy. interesting stats expected out of the auto sectors. this could be good news. we think there may ab a pace of somewhere in the region of 15.2 million cars sold in november. the fact is that americans got very old fleet of cars. the average age of car now is 11 years old. it's 20% of the cars on the road are 16 years old. maybe renewing the cars is a big factor. great numbers for abercrombie and fitch, the shares are up 15%. this is a very well received set of n
somewhere north of $1 trillion which is basically the difference between boehner's position and obama's position. it includes medicare cuts, entitlement cuts that are at least $400 billion. remember dick durbin on your show earlier in the week put that $400 billion marker down. democrats privately tell us they'll go higher, perhaps much higher if republicans get serious on raising taxes. they'll cut spending by about $1.2 trillion, which is the total of sequestration. and they'll probably have to throw in a debt limit increase to avoid hitting that in february. people involved in the talks feel like they can get there. there's no doubt it's going to take some time, boehner has to get republicans more comfortable with raising taxes including raising rates. i don't think there's a scenario where the rates don't go up on people making over $250,000. and democrats have to get more comfortable with entitlement changes. but at the end of the day, obama can deliver democrats. and i think boehner's stronger today than he was three months ago, and he could deliver more republicans than he coul
in the clip in the opening, president obama is insisting a balanced approach and we've talked about this before, balance is in the eye of the beholder. john boehner would say this is a balanced approach, we're putting revenue on the table as well as entitlement cuts. president obama seems to be indicating balance means getting more from the wealthy and likely to mean raising rates. as he said today and prior to today, the math doesn't add up if you simply close loopholes, cap deductions, do those sorts of things. we're sort of where we always have been. it's where we have been for several years at least when it relates to congress and the president simply not being able to resolve what are fundamental differences. we talked about this before the election, andrea. the election was supposed to tell us something about what the american public wanted. president obama did win the election. you know, an event has happened as part of the many months where the public comes down on this. >> luke russert, john boehner did yesterday come out with their proposal, the house proposal. is that a n
might be stuck. a senior administration official told us that president obama and john boehner had a phone wallace night and politico was reporting that the phone call was curt. they said on the call john boehner told the president to leave the tax cuts for the rich alone. the president says he doesn't want to do that. he's going to stick with his plan to raise $1.6 billion in revenue and if republicans have something better they should be specific now. eric cantor said republicans are already going further than they did in the same spot in 2010. >> we have done our part. we have put revenues on the table, something we didn't do two years ago during the debt ceiling negotiations. >> we've seen some positive developments in the last several weeks, in terms of what republicans have been saying about the need for revenue as part of a balanced package. the president will continue to make the case that that is essential. >> reporter: so both sides saying revenue is on the table, now the fight is obviously to figure out where it's going to come from, how the government is going to make m
comments made by president obama and house speaker john boehner, both expressing optimism on fiscal cliff negotiations in the washington. in a new report from the congressional budget office it says more than half a trillion has been spent on jobless benefits over the past five years. $520 billion in jobless benefits in five years. also part of the debate, whether to extend the deadline to file for additional unemployment benefits beyond the end of the year. spending on food stamps is rising. nearly 15 million households received food stampses in 2011, up 10% from the year before according to new data from the census bureau. it shows you the far reach of the government right now in the safety net in supporting american families. all of that at the core of the debate of what's happening with the fiscal cliff. >>> $7 coffee. starbucks thinks you will pay. coffee connoisseurs can pay $7 for a grande cup of costa rica fincapalamara. it's called mucho deneiro. cultivated from a central american bean known as geisha. it is extremely difficult to produce. the same america who spends $7 on lotter
for here? >> let's not forget that neither president obama more speaker boehner have all that much running room. there are conservative republicans who are not going to vote for whatever deal is reached. there are liberal democrats in the house who are not iffing to vote for whatever deal is reached. the question is there a path in vote for whatever deal is reached. the question is there a pating vote for whatever deal is reached. the question is there a patng t vote for whatever deal is reached. the question is there a patging vote for whatever deal is reached. the question is there a patoing vote for whatever deal is reached. the question is there a path that -- where their interests intersect closely snuff? >> i want to get to 2016. it's been ages since we talked about the presidential election because what caught my fancy was that congressman ryan and senator rubio are both going to be at the center, as you guess, i believe rubio or ryan, one of them, is receiving the award. 2016 came to mind. if you are looking at either -- whichever one catches your fancy, the democratic landscape or
obama and speaker boehner spoke on the phone yesterday for the first time in days. both men agreed not to publicly characterize how the conversation went. but the stalemate in negotiations entered new territory yesterday with treasury secretary tim geithner suggesting the white house is ready to go off the cliff if republicans refuse to raise taxes on the 2%. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans -- remember, it's only 2%. the size of the problem in some sense is so large, it can't be solved without rates going up as part of that. again, i think there's broad recognition of that reality now. >> one fallback option republicans are reportedly considering is to accept tax cuts for the middle class, allow rates to go up for the wealthiest, and then start the fight over again during debt limit talks early next year. yesterday at a business roundtable of ceos, president obama took a
boehner and president obama to work out a deal? >> 24 hours. >> yeah. >> about 24 hours. boehner has the deal in his head he wants. his problem is he's trying to figure out how he gets that deal, not just in the room but then out of the room. with his caucus. and that's just the reality of it. i mean, you've got, again, republicans feel burned on this. republicans also feel engaged on it simply because that's what they ran on. and that's been a big part of the fiscal argument for republicans for the last two or three years has been controlling the spending, the size and growth of government. controlling the ability of the government to confiscate more of your wealth, to trust more on the middle class and the working class, small business owners. and that's really kind of the link. and that argument, you talked about being primaried, that's the central primary argument that will be -- hit them upside the head in two years when they run is wait a minute. we sent you to control spending, yet you increased taxes. it's not increasing taxes on the wealthy, it's just blanketly you increase
. senator mitch mcconnell reportedly burst into laughter while geithner was in the middle of outlining obama's plan. and house speaker john boehner who described his phone call with the president wednesday night as disappointing was not impressed by the white house proposal. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. right now all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they're really willing to make. >> boehner then raised the stakes by throwing the debt ceiling into the mix, suggesting that any plans to raise the nation's borrowing limit would have to be matched by spending cuts in the fiscal cliff deal. >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or
to date. president obama, house speaker john boehner breaking the ice. >> that's good news, right? >> the two leaders discussing the fiscal cliff by telephone yesterday. no word of significant progress with just 26 days remaining to get a deal done. but there are signs of compromise. oak e oklahoma's republican senator breaking ranks, saying he's okay with raising taxes on the rich. >>> two seizures off the coast of the dominican republic last month, authorities recovering more than 50 bails of coke. it is weighing close to two tons. the drugs had a street value of $45 million. it will now be destroyed. >> are you losing your keys or misplacing your wallet. >> yes. >> there may be a quarter-sized blue tooth enabled button to communicate with a smart phone. >> sneakers, that's hysterical. >> the app will have a radar feature if they're getting warmer or colder. >> my blackberry charger. that's what i need it for. >> it just has to tell you where it is. >>> a sticky situation on a highway. in new hampshire, a tractor-trailer loaded with a cargo of maple syrup overturned on the inter
. boehner and the republicans have to be aware of where obama's at in his own head and with his colleagues, which is no deal without some increase in rates, or we go over the cliff. >> let me just add one thing. when obama made that initial offer, we talked a little bit about how, you know, it was a wish list. it was ideological, whatever you want to say. i think it actually helped boehner in some respects because it gave him three or four things that he could then go back to his caucus and say, look, i moved obama off of this, this and this. and when boehner put his offer out there, you started to see what could potentially be a chip-trading process going on here, whereby you have some give on, you know, cpi, the inflation index for social security, and in exchange boehner would agree to some marginal rate in the tax rates. now the people need to start figuring out what they want to give and take. >> the only difference i would say, steve, between what the president wants and john boehner is it's not what john boehner wants. it's what john boehner can deliver. >> yeah. >> and this is a si
done heading in to the new year. >> we stay bullish. >> president obama and house speaker john boehner spoke by phone wednesday, but there's been no announcement by either side of any upcoming face to face budget talks. earlier the president told the business round table a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. in an interview on cnbc, timothy geithner says the gop is making a little bit of progress, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> i want to understand the administration's position when it comes to raising taxes on the wealthy, those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> with both sides in washington publicly digging in their heels, how much will the fiscal cliff impact the credit mar
problems it seems to me is the relationship between john boehner and barack obama. just seems deeply flawed. they're at a party and they couldn't be bothered to shake hands. this is not the kind of way that adults, politicians, behave, is it, in a civilized society. they should be able to shake hands, be friendly, then get behind closed doors, shout at each other and get a deal done. but these two, they don't seem to have any time for each other at all. that can't help the process. >> well, piers, i wouldn't read too much into the christmas party at the white house. as i think you know, there are long lines to get your pictures taken with the president. speaker boehner has had his picture with the president many times. the president has had his picture with speaker boehner. but look, the important thing as you say is to get everybody together. now, the president's plan is very clear. he spells out exactly how he's going to get the revenue and he's very detailed about the cuts. what we would like to see is a similarly detailed plan from speaker boehner. as the president said, when you look a
a crisis but it will require even more skill than talks between obama and boehner. >> i remember after reading k s kissi kissinger's book on china, a fascinating world view we are sort of evangelical about spreading democracy. china sees themselves as the center. no, you come to us. i said, is that true? do the chinese not want to sweep into europe? he said, no, you understand what the chinese want, look at the gdp number. it has to be at 9% or 10% or they feel they lose dprip on power. >> the narrative to any family in china if you look back about ten years they're better off. that's when the real problems set in. >> what are the poll outlets or ways that this country, that america can have sort of a resurgence in manufacturing. >> the natural gas boom and things like that placing an emphasis on speed. if you have an idea for a new product you want to get to market five weeks from now, it's possible to do that better in california, in texas and boston rather than going to hong kong. >> that's very -- >> you did mention on the list one of the things that the obama administration loves
of the minds between president obama and house speaker john boehner where talks to end the fiscal showdown ends. the president for his park took his place for the public and called for america and little cuts to entitlement spending something the speaker says must be part of any final deal. wall street journal columnist and dan henninger, and mary an anna-- anastasia o'grady and kim strassel. you've been talking it it sources and is the mood as hour as it sounds. >> it is by the end of this week and here is why, the republicans came out right after the election and said to the president, you want revenue here. you want revenue on the wealthy, we'll give it to you, limiting tax deductions for the wealthy. the president instead of taking that and running with tceiling a deal has been campaigning for tax hikes and to cap it off sent treasury secretary tim geithner to congress with this outrageous proposal as basically a compilation of everything that the president wanted in his budget and beyond what he even campaigned for. as a result i think most republicans wonder how serious he is about doing
, congressional aides say that is simply not happening. in fact, even when president obama and house speaker john boehner were in the same room together like they were last night at the white house holiday reception for congress members, they didn't even speak. the president was asked about that today. >> speaker boehner was here at the white house last night for a christmas party. the two of you didn't even speak. what's it going to take to get the two of you in a room to hash this out? >> well, speaker boehner and i speak frequently, and i think the issue right now -- >> when? when will the two of you sit down in a room? >> you know, i don't think that the issue right now has to do with sitting in a room. >> as i mentioned, the american people want the people they elected to sit down together, work it out. a new gallup poll shows 62% want government leaders to compromise on the fiscal cliff. just 25% said they should stick to their principles. so why is it that this congress and this white house can't seem to get together and compromise on a deal? it certainly isn't the first time republicans a
: they are a long way from a deal, but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates. as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter and the two men have not moved from that basic position. now, all of this quomz comes at the same time treasury secretary geithner also said for the first time the administration would be willing to go over the fiscal cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. all americans get a tax cut on the first $250,000 o
the fiscal cliff. mr. obama and house speaker john boehner took a step yesterday, speaking about the standoff on the phone. i guess at least they weren't texting, right? while the details of their chat remain private, both men continued to talk past each other in public. >> let's allow higher rates to go up for the top 2%. >> there are ways to limit deductions, close loopholes, and have the same people pay more, more of their money to the federal government, without raising tax rates, which we believe will harm our economy. >> treasury secretary tim geithner also weighed in yesterday saying the president is willing to allow the nation to go over the cliff if republicans don't agree to raise taxes on the wealthy. >>> we are learning new details about colorado's shooting suspect james holmes now that thousands of e-mails in the case have been released. messages indicate holmes may have had a brief romantic relationship in the days before the tragedy. we have learned that in early june, holmes began specifically talking and fantasizing about killing a lot of people. his psychiatrist was so worri
tweet me @wolfblitzer. >>> out front next today, president obama and speaker of the house john boehner both hint that a deal to avoid the fiscal cliff is on the way. possibly in time for santa. i asked republican john cornyn whether he thinks that is a reality. >>> and governor romney sits down with the president since the election, actually since the debates. does this do either of them any good? rick santorum is out front. and julian assange is out front to answer critics and our questions tonight. let's go "out front." >>> good evening, everyone. i'm erin burnett, outfront tonight, an early christmas miracle. or at least the glimmer of one today. barack obama bringing glad ti tidings of great joy to avoid the fiscal cliff. >> i will go anywhere and do anything it takes to get this done. it's too important for washington to screw this up. >> and john boehner, not to be outdone, put a little early present under the tree too. >> i'm optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> these are pretty glum faces to deliver those present
in motion by the same two people who are negotiating this deal. president obama and speaker boehner. >> i had the opportunity to ask secretary geithner in may in a hearing in the financial services committee in the house if he could name a state. we have 50 states. if he could name one state that had higher economic growth than a state that had lower taxes and less regulation. he could not name a state. yet what he's proposing is higher taxes and more regulation. that's what this administration has done over the past four years. we have two massive laws that are breaks on the economy. 2010 health law. affordable care act. well intentioned but -- >> will republicans raise taxes? there's two chess movesky s ki see as a lowly voter. >> i won't. but this is -- this is where leadership counts. and so speaker boehner needs to work with the conference to find republicans that are willing to go along with that. >> are you going to raise taxes? >> look, it depends on what you mean by raising taxes. >> on the top 2% of the wealthy people, you say you pay instead of 35%, we're going to put you at 37
worked out between -- where president obama and speaker boehner tried to work out last year. and also -- while certainly both sides are saying that specifics are lacking, there is certainly, i think, a feeling from some democrats that maybe it could have been worse. maybe they were expecting something that in their estimation might have been even more towards what republicans would want. >> brianna keilar, thank you. i guess we're supposed to be encouraged that everybody wasn't just giggling over the proposals. rks said they laughed at the white house proposal. >>> let's get to senator johnson, member of the budget committee and the appropriations committee. we appreciate your time this morning. >> morning, soledad. >> you heard brianna's report a moment ago. she said the white house rejected it because they're like, listen, it has to have tax increase on the top 2% or it's a complete no go. would you be willing, in fact, to raise taxes on the top 2% wealthiest americans? >> to meet the case for growth and how it's ten times more effective than just increasing tax rates. few numbers.
speaker boehner disagreeing with president obama under the white house proposal. the president would have the power to raise the debt limit on his own, whenever he wants, as needed. speaker boehner saying congress isn't budging on that issue and here is what he had to say on fox news sunday. >> congress will never give up the power and i made it clear to the president that when we get to the debt limit we need to cut some reforms that are greater than the increase in the debt limit. it is the only way to leverage the political process to produce more change than if left alone. >>gregg: you can see more of the remarks on "fox news sunday" at the top of the hour. >> extreme weather on the west coast flood advisories in effect for storm ravaged parts of northern california as another storm bringing heavy rain and police and fire officials wanting the napa and russian rivers expected to break their banks. and now, streaming live from northern california. >>reporter: yes, the banks are about to break any moment now, 12 hours ago there was torrential rain it looked to be tidal waves which is an
cliff stuff done? i think president obama preparing to answer some tough questions from voters. over the weekend house speaker john boehner said these negotiations are nowhere. jay carney disagrees with that assessment. now phone calls at this point between president obama and congressional leaders, but the white house says the talks will be ongoing over the next several days, tamron. >> thank you. the president's q and a on twitter comes days after republicans flat-out rejected his opening bid in negotiations. house speaker john boehner appeared on one sunday morning talk show to see the president's proposal was not in his opinion a proposal at all. >> i was flabbergasted and said, you can't be serious. i just have never seen anything like it. we have seven weeks between election day and the end of the year, and three of those weeks have been wasted with this nonsense. >> okay. >> treasury secretary tim geithner appeared on five separate sunday morning talk shows. he says it's the gop who have been short on specifics. >> we said how and how much and who should pay. they haven't prop
are we with the dollars here? >> reporter: we have the opening bids from speaker boehner and president obama. the different in dollars. the president wants $800 billion more in tax increases. the republicans want approximately more a trillion dollars more spending cuts. that's the difference between the two sides just in dollar terms. there is a difference between the two sides in terms of principle. the principle centers on higher tax rates, yes or no. speaker boehner many latest offer is raise $800 billion mostly from the wealthy by limiting deductions. the president says, no, don't want that. we want to tax the rich with higher tax rates on the rich. we have a dollar difference, a difference in principle. martha: we are hung up on ideology here. if you can get the money one way and it produces a long lasting change to the tax code which both sides say they want, what seems to be the problem? >> reporter: it's ideology. the president one the elect, he says he won it on taxing the rich. he want to win the debate. whether it's the best solutioner to the economy is an entirely different
yesterday, president obama and house speaker john boehner got on the phone. >> reporter: that may not sound like much, george. but it's the first time the two men have spoken in a week. and what may be the most significant sign of progress, neither side talked about what was said on the call, an indication they may be serious about negotiating in private. >> we're starting to see some republicans concede that tax rates on the wealthy, at least, are going to have to go up. the president has another rock-hard bottom line. that's an increase in the u.s. debt limit, as well. >> reporter: that's right. republicans even top republicans, say the tax rates are going to almost certainly go up. but on this question of the debt ceiling, the government reaches the limit of how much money it can borrow in february. republicans say they will exact a price for that. they want spending cuts, if they can't get exchange for the tax increases. they will raise the debt ceiling. >> the president saying he's not going to negotiate on that, either. >>> now, to a major headline for parents about a popular affordab
the white house learned during the first term is that there are some things that work for obama and some things that don't. sitting down at a table with john boehner as essentially equals did not turn out as well as they might have hoped with the debt ceiling talks in 2011. but what did work was that winter when the president went to the country and argued for extending the payroll tax holiday and developed pressure outside of washington, he was a lot more successful. so they have two goals here. one is to keep the pressure coming from outside the beltway and the second is to make sure that this is not a negotiation between the president and boehner, that they want the president essentially floating above this. >> robert, when we talk and i know you had a chance to hear what congresswoman black will to say about trying to find the right balance here, while a majority of americans, say they go completely support raising taxes on wealthier americans, there is also a majority support that says we don't want to see earned benefits messed with, we don't want to see the medicare eligibility ag
againsy on the fiscal cliff. speaker boehner is demanding a face-to-face meeting with president obama and the pentagon is preparing for the worst. >> it could take a week to clear out the backlog of ships. we're live at the port of los angeles straight ahead. tracy: time for stocks as we do every 15 minutes. nicole petallides on the floor of the new york stock exchange. it has been a wild ride. a lot of it has to do with apple, right? >> the big picture, markets are higher. apple has come under pressure. let's look at the major market averages. the dow is up triple digits, completely erasing losses over last couple days. posting a gain for the week. tech-heavy nasdaq pom cost it is moving to the because weighed down by apple. research and findings have found that apple faces intense competition in the tablet market for ipad and ipad mini and probably will lose market share to android and even microsoft systems. you're seeing apple down 28, almost 29 bucks. a terrible day if you're a shareholder hoping to get to the upside. a lot of folks hope it will get back to 700. not today. look a
speaker of the house john boehner told reporters no substantive progress has been made. president obama has no interest in reducing the size of the federal government. now democrats before him he's dangling the prospect of future budget cuts in the hopes republicans will take the bait. with that in mind, it's important to remember the words of president ronald reagan, he wrote them in his own autobiography, and described in great deal a deal he struck with the democrats in 1980s, promising $3 in spending cuts for every dollar in a tax increase. reagan wrote, the democrats reneged on their pledge and we never got those cuts. perhaps that's why some on the right are calling foul on these negotiations. >> the only secret talks have revealed, a government that skips from one crisis to the next. all of this secrecy allows the president to petition himself frankly and being in favor of a balanced plan. that's what he said, i favor a balanced plan. basically it increases taxes to fuel more spending. that's what the plan is. the white house plans to raise taxes to expand government. that's not
to do that as well. we can solve these problems. >> boehner's surprise is in part because this is a different obama he is now negotiating with. and it is not just that obama won an election. he has often compromised on his own. he has offered plans that tracked where he thought the final compromise would end up. the white house figured that by being list is us to they would win goodwill own the other side and even if they didn't, the media would come to their side realizing they sought compromise in the same place and been rebuffed by republicans. the white house does not believe that any more. probably the key lesson they took from the last couple of years is this. do not negotiate with yourself. if republicans want it cut medicare, let them propose the cuts. if they want it raise revenue through tax reform as opposed to marginal rates, let them tell you with what they want it eliminate. if they want deeper cuts to discretionary spending, let them give you a number. above all, if they don't like your policies, let them propose their own. that way if the white house does g
for the week today to enjoy a long weekend at home, but john boehner stayed behind and spoke by phone this afternoon to president obama. it was their first conversation in a week. also, this afternoon treasury secretary tim geithner said this on cnbc. >> when it comes to raising taxes on the wealthy, those making more than $250,000, if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve the rates going up on the top 2%. >> "the new york times" reports that senior republican leadership aides are contemplating a fall-back position on a fiscal deal. they could foresee taking up and passing legislation this month to extend the tax cuts for the middle class and then resume the bitter fight over spending and taxes as the nation approaches the next hard deadline. it's statutory borrowingรง limi which could be reached in late january or february. speaking to a business roundtable, president obama responded to that idea this way. >> if congress in any way suggests that they
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